How Much Is The First Home Grant In NZ

The First Home Grant - How much can I get?

First Home Grant

The First Home Grant was discountinued on the 22nd May 2024 and is no longer available.

This from Kainga Ora:

As of 1pm, 22 May 2024 and at the direction of the Government, we are unable to accept any new applications for First Home Grants. All applications lodged before then will continue to be processed and we will be in touch with customers about their applications when needed. 


In New Zealand, the First Home Grant offers financial support to first-home buyers who meet specific eligibility criteria. Here's a detailed overview:

Grant Amounts

Existing Homes:

You can receive $1,000 for each year of KiwiSaver contributions, with a maximum of $5,000 after five years.

For example:

3 years of contributions = $3,000
4 years of contributions = $4,000
5 years of contributions = $5,000

New or Built Homes:

You can receive $2,000 for each year of KiwiSaver contributions, with a maximum of $10,000 after five years.

For example:

3 years of contributions = $6,000
4 years of contributions = $8,000
5 years of contributions = $10,000​

(RNZ)​​ (​​ (MoneyHub NZ)​.

Eligibility Criteria

To be eligible for the First Home Grant, you must meet the following conditions:

  • KiwiSaver Contributions:

You need to have contributed to KiwiSaver (or a complying superannuation scheme) for at least three years. Contributions should be at least 3% of your total income or a minimum of $1,000 annually, whichever is lower. These contributions do not need to be consecutive but must total at least three years' worth​ (Kainga Ora)​.

  • Income Limits:

Your annual household income must not exceed $95,000 before tax for a single applicant or $150,000 before tax for two or more applicants combined​ (​.

  • Property Price Caps:

The property you intend to buy must be within the regional house price caps set by Kāinga Ora. These caps vary by region and are designed to reflect local market conditions. For example, the cap for existing homes in some regions may be $500,000, while for new homes it might be $650,000​ (RNZ)​​​.

  • Deposit Requirement:

You must have a minimum deposit of at least 5% of the purchase price of the home. This can include savings, the First Home Grant amount, funds withdrawn from your KiwiSaver, or money gifted by a close family member​ (Kainga Ora)​​​.

Application Process


  • It is advisable to apply for pre-approval if you are actively searching for a home. Pre-approval is valid for six months and gives you the confidence that you can access the grant when you find a suitable property​ (Westpac)​.


  • To apply for the grant, you need to provide proof of your KiwiSaver contributions, income verification, and evidence of your deposit. If you are using gifted money, a completed gifting declaration is required​ (Kainga Ora)​​​.

Additional Considerations

First-Time Buyers: If you have previously owned a home, you may still be eligible if you meet the standard criteria and have not received a First Home Grant or its predecessors before. Your realisable assets must also be below 20% of the regional house price cap​ (Kainga Ora)​.

Type of Property: The grant can be used for purchasing new builds or existing homes, provided they meet the regional price caps and other eligibility requirements. New builds include newly constructed homes or those that received a building compliance certificate within the last 12 months​​​ (BNZ)​.


The First Home Grant is a significant aid for first-time home buyers in New Zealand, providing up to $5,000 for existing homes and up to $10,000 for new homes, depending on the length of KiwiSaver contributions. Ensuring you meet the eligibility criteria and understanding the application process are essential steps to making home ownership more attainable with this grant​​.

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